Bank of New York Mellon Corp Sells 21,776 Shares of The First Bancshares, Inc. (NASDAQ:FBMS)

Bank of New York Mellon Corp reduced its stake in shares of The First Bancshares, Inc. (NASDAQ:FBMS - Free Report) by 13.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 145,188 shares of the bank's stock after selling 21,776 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.47% of First Bancshares worth $5,082,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of First Bancshares by 50.8% during the 3rd quarter. FMR LLC now owns 3,194 shares of the bank's stock worth $103,000 after purchasing an additional 1,076 shares in the last quarter. Entropy Technologies LP bought a new position in First Bancshares during the third quarter valued at approximately $203,000. Verition Fund Management LLC bought a new position in First Bancshares during the third quarter valued at approximately $236,000. Quantbot Technologies LP acquired a new stake in First Bancshares in the third quarter valued at approximately $308,000. Finally, Centiva Capital LP grew its position in First Bancshares by 17.8% in the third quarter. Centiva Capital LP now owns 9,767 shares of the bank's stock worth $314,000 after acquiring an additional 1,476 shares in the last quarter. 69.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FBMS has been the subject of several analyst reports. Keefe, Bruyette & Woods upped their price objective on shares of First Bancshares from $40.00 to $45.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. StockNews.com assumed coverage on First Bancshares in a research note on Friday. They set a "sell" rating for the company.

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First Bancshares Stock Performance

Shares of First Bancshares stock traded up $0.24 on Friday, reaching $35.07. The stock had a trading volume of 208,099 shares, compared to its average volume of 175,778. The First Bancshares, Inc. has a fifty-two week low of $22.96 and a fifty-two week high of $39.21. The business's 50-day moving average price is $36.00 and its two-hundred day moving average price is $34.90. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market cap of $1.10 billion, a P/E ratio of 14.37 and a beta of 0.92.

First Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Monday, February 10th were given a $0.25 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 2.85%. First Bancshares's dividend payout ratio is 40.98%.

First Bancshares Profile

The First Bancshares, Inc operates as the bank holding company for The First Bank that provides general commercial and retail banking services. The company operates through three segments: Commercial/Retail Bank, Mortgage Banking Division, and Holding Company. It offers deposit services, including checking, NOW, and savings accounts; other time deposits, such as daily money market accounts and longer-term certificates of deposit; and individual retirement and health savings accounts.